FTSE 100 close: Barclays charge runs out of steam as Deutsche Bank swings to losses March 28, 2023 London’s FTSE 100 was pulled higher by banks clawing back losses yet again today, with Barclays and Standard Chartered initially leading the charge before running out of steam heading into the close. The capital’s premier index jumped 0.17 per cent to 7,484.26 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with [...]
Moorgate moves: Why a Malaysian property fund is betting big on Deutsche’s London HQ March 28, 2023 A MALAYSIAN property fund has teamed up with London-based Castleforge to buy Deutsche Bank’s current London base in Moorgate for just over a quarter of a billion – in what amounts to a big bet on London’s commercial property market and the ‘flight to quality’ in office space. Castleforge and its Malaysian partner Gamuda plan to refurbish [...]
FTSE 100 close: Deutsche Bank surges while Barclays and HSBC yank London index higher March 27, 2023 London’s FTSE 100 kicked off the week in upbeat style, yanked higher by UK banking giants Barclays and Lloyds racking up gains. The capital’s premier index jumped 0.9 per cent to 7,471.78 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, climbed 0.19 per cent [...]
Deutsche Bank shares recover as market nerves settle, for now March 27, 2023 Deutsche Bank’s share price gained 5.3 per cent during Monday morning’s trading after tanking on Friday as the cost of insuring the company’s debt against default soared. The banking sector has been extremely volatile since the collapse of Silicon Valley Bank (SVB) and the emergency acquisition of Credit Suisse by UBS, with many wondering which [...]
‘The UK has real strengths’: Deutsche Bank CEO Tiina Lee on Brexit, the City of London and Edinburgh reforms March 24, 2023 The City of London has been facing a crisis in confidence recently with a string of stories suggesting London no longer holds its edge as a world-leading financial sector. But despite hand-wringing in the City – particularly following ARM’s decision to list in New York – Deutsche Bank UK’s CEO Tiina Lee cautioned against this [...]
Banking stocks on course for another good day as fears of global crisis recede: Most in green… apart from UBS March 22, 2023 European banking stocks were on course for another strong morning on Wednesday after a rollercoaster couple of days for the sector induced by Credit Suisse’s buy-out by UBS. Most European banks were in the green on Wednesday: SocGen was up 2.5 per cent, BNP Paribas 1.5 per cent, Deutsche Bank 1.2 per cent and Santander [...]
Credit Suisse weighs up survival options as 167-year-old bank faces pressure to merge with rival UBS March 18, 2023 Credit Suisse Group began a make-or-break weekend after some rivals grew cautious in their dealings with the bank and regulators urged it to pursue a deal with Swiss rival UBS. Credit Suisse Chief Financial Officer Dixit Joshi and his teams will hold meetings over the weekend to assess strategic scenarios for the bank, people with knowledge of the matter [...]
Norwegian billionaire fails to overturn conviction for lying to UK court in £285m Deutsche Bank dispute February 26, 2023 Norwegian billionaire Alexander Vik has failed to overturn a conviction for lying to a UK court during a £285m dispute with Deutsche Bank. Deutsche Bank first sued the magnate’s company, Sebastian Holdings, back in 2009 over a series of loss-making foreign exchange deals, and the court has since ordered the firm to pay $243m (£203m) [...]
‘Substantial reduction’ in bonuses at Deutsche Bank and Barclays as fallout from WhatsApp scandal continues February 16, 2023 Deutsche Bank and Barclays have both cut bonuses for senior staff that inappropriately used WhatsApp as the fallout from an industry-wide crackdown on the use of private messaging services continues. According to Bloomberg, employees at Deutsche Bank who were found to be in severe breach of policies will see a “substantial reduction” in their bonus. [...]
Deutsche Bank posts ninth successive quarterly profit as turnaround efforts yield gains October 26, 2022 ONE OF Europe’s biggest lender’s Deutsche Bank has notched its ninth successive quarterly profit, marking a big turnaround after years of being mired in scandal and losses. The German giant said today profits hit €1.12bn (£975m) in the three months to September, up from €194m (£167m) in the same period last year. Deutsche Bank’s profits [...]